Maryland Institute

Organization Overview

Maryland Institute, operating under the name Maryland Institute College Of Art, is located in Baltimore, MD. The organization was established in 1935. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, Maryland Institute College Of Art employed 1,673 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Institute College Of Art is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 05/2020, Maryland Institute College Of Art generated $136.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $129.2m during the year ending 05/2020. While expenses have increased by 2.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

DEGREE GRANTING COLLEGE-MARYLAND INSTITUTE COLLEGE OF ART IS A PRIVATE COLLEGE (SEE SCHEDULE O)

Describe the Organization's Program Activity:

Part 3 - Line 4a

ACCREDITED COLLEGE WITH PROGRAMS IN FINE ARTS, APPLIED ARTS, AND ART EDUCATION; APPROXIMATELY 1,800 STUDENTS, GRANTS ARE DISBURSEMENTS FOR STUDENTS' FINANCIAL AID, STUDENT AWARDS, FELLOWSHIPS, AND FOR FACULTY DEVELOPMENT GRANTS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Broadway Services Inc
Professional Services
$518,889
Elsmere Education Inc
Professional Services
$3,377,766
Parkhurst Dining Services
Food Service
$2,113,651
Quality Waterproofing Services Inc
Construction
$543,970
Trane Us Inc
Construction
$650,244
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$15,132,259
Investment income $2,994,543
Tax Exempt Bond Proceeds $1,192
Royalties $18,458
Net Rental Income $433,641
Net Gain/Loss on Asset Sales $94,833
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $136,443,462

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Maryland Institute has recieved totaling $2,000.

Awarding OrganizationAmount
Frank D Brown Jr Charitable Tr I

Pittsburgh, PA

PURPOSE: GENERAL SUPPORT

$2,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$117,755,151
Earnings-$5,959,541
Admin Expense$55,295
Net Contributions$2,807,047
Other Expense$3,426,450
Grants$1,765,141
Ending Balance$109,355,771

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